Sonic, the first atomic Solana Virtual Machine (SVM) chain that supports independent game economies on the Solana network, achieved a major milestone with its incentivized testnet “Odyssey.” This testnet recently has reached 100,000 connected wallets. It also has recorded over 17 million transactions. In this way, it paves the way for its upcoming mainnet launch.
Sonic to Expand Teams Globally with New Cypher Capital Investment
With the backing of $308 million multi-strategy crypto investment firm Cypher Capital, Sonic’s latest fundraising endeavours plan to bolster its ecosystem before the mainnet. The new funds will be allocated to increasing core development, game-related, and marketing teams across the world; supporting ‘Odyssey’, an incentivized testnet campaign, and strengthening Sonic’s core teams.
Today, Sonic has an active testnet through which it encourages users to engage in different on-chain operations. These operations inlcude transactions and games that are to be launched on Sonic.
Sonic’s founder, Chris Zhu, also recognized Cypher Capital as a part of Sonic’s development and growth. He pointed out that due to Cypher Capital’s vast connections across the community and access to the right fund, it has played a pivotal role in bridging gaming to the Solana network.
Cypher Capital Aids Sonic in Solana Market Entry
Cypher Capital is the only Solana Virtual Machine gaming chain, which assists Sonic to develop its market entry plan. Sonic’s infrastructure is based on a horizontal scaling solution called HyperGrid, a rollup solution that is pinned to Solana. This is a great feature because it means that any game can establish its own blockchain rollup and be freely designed, creating new independent game economies.
Specifically, Investment Lead at Cypher Capital, named Harsh Agarwal, stated his joy about backing Sonic in the development of the first SVM Layer 2 Gaming Chain. He praised Chris Zhu’s knowledge and vision. He also expressed confidence in Sonic’s ability to enable gaming economies on Solana.
With these developments, Sonic is ready to become a big company at the intersection of blockchain games. Big investors and participants in the crypto market are now following Sonic’s developments. Because it demonstrated strong results on its testnet. It also sets to release its mainnet soon which are signs that can indicate trends in the adoption of blockchain gaming in Solana continuously.